Check the status of bitcoin on a 4-hour daily chart Based on Elliott wave counting, channeling, and using Fibonacci
Since the ascent, which has taken place over the past 34 days, has corrected more than 62% of its previous wave, it is very unlikely that we will face wave A.
So by changing the way of counting, I realized that the fall was done with a double zigzag pattern and now we are completing wave 1 of 5.
The purposes of this wave count are: 1- 75000-80000 2- 10000-108000 3- 136000-147000
According to the lead pattern formed for the leading wave 1, there is a possibility of price correction to the range of 44500-36000 before the climb.
If the 32,000 support is broken, this counting wave will be void.
Bull cycle has been finished at 64k,this movement from 28k to probably 58k is retracement!
Netris101
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Awesome 👏
eenmakkie
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@KhaniTechnical here what do you think of this count that ends the correction black (4) at 22 June 21 ?
same as ETH and ADA did prove with the massive wave from july 20 that must be a 3rd wave. to big for a 1st wave.
only the (i) from june 22 till 5 july looks a bit ugly with that wedge and truncation in subwave blue (v)